Accredited ACH Professional (AAP) Practice Exam

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Prepare for the Accredited ACH Professional (AAP) Exam with tailored questions and study materials to enhance your understanding of ACH transactions and operations. Test your skills and readiness for this important certification!

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What are the eligibility criteria for a Re-presented Check (RCK)?

Returned for insufficient funds with a pre-printed serial number
Authorized by the ODFI only
Must be dated less than 90 days aged
Cannot be drawn on investment company funds

The correct answer is: Returned for insufficient funds with a pre-printed serial number

The eligibility criteria for a Re-presented Check (RCK) primarily include that it must have been returned for insufficient funds, and critically, it should have a pre-printed serial number. This requirement ensures that the check is accounted for properly in the processing system and allows for easier tracking and re-presentation by the originating financial institution. The pre-printed serial number is essential for identifying the check, confirming its legitimacy, and ensuring that it is the correct item being represented for payment again. The other criteria mentioned do not apply in the same way or omit necessary requirements. While authorizing by the ODFI is relevant, other checks may still meet the criteria without this specific authorization. Not all checks have to be within a certain age besides the stipulation regarding the 90-day limit, and while checks drawn on investment company funds might face scrutiny, disallowing them entirely is not a general eligibility criterion for RCKs. Therefore, the pre-printed serial number combined with the return reason specifically outlines the integrity needed for re-presenting the check for payment.